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277 comments on DrumBeat: March 30, 2008

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River on March 30, 2008 - 11:10am Permalink | Subthread | Parent | Comments top

Yes, they will have to give them away...or, bulldoze them. Another big problem are the huge condo projects that were started during the housing boom that are now nearing completion...Or, in some cases, work on the condo towers has ceased in mid construction.

Since local banks provide a lot of the construction loans for contractors to build these high rise condos, local banks are left holding the bag.

In some cases the new condos are being converted to rentals but that is not good for banks that were expecting the loans that they provided to be paid back in a lump sum upon completion of the condos.

Due to budget constraints in Volusia County seven school closing have already been announced...and that is merely the tip of the iceburg.

As Rosanne Rosanna Danna would say 'It's a real mess.'

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TrueKaiser on March 30, 2008 - 2:10pm Permalink | Subthread | Parent | Comments top

I say they should bulldoze the ones near the coast and try to re-create the natural area's to give some better protection to the inside of the state till the rising sea floods it out. Though thats not going to happen in any real world, what will most likely happen is the area's will become the slums of the 21st century letting the rich move to higher ground.

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277 comments on DrumBeat: March 30, 2008

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